The Zhitong Finance App learned that Dali Group (00029) surged more than 14% in early trading. As of press release, it had risen 14.97% to HK$9.14, with a turnover of HK$2.77 million.

According to the news, Dali Group announced that the company expects to obtain a comprehensive net profit attributable to shareholders of approximately HK$5.366 billion (2022: HK$1.476 million) for the six months ending December 31, 2023. This increase is mainly due to the confirmation of fair value earnings of approximately HK$12.63 billion (for non-cash projects) based on the valuation of land allotted by the Group, and approximately HK$7.25 billion after deducting related deferred taxes (to be paid after completion of development and sale of the relevant properties). Please note that in the future, the Group will need to invest huge related construction and development costs in order to allocate land to the Group.